Pro Dominicana, the government export and investment agency, announced the availability of two new online tools to foster exports and investments.
These are the VUI, the one-stop window for processing government red tape, and the iGuide, the other innovative platform for those interested in doing business in the Dominican Republic.
Biviana Riveiro Disla, executive director of the Export and Investment Center of the Dominican Republic (ProDominicana) highlighted during the presentation of the two digital tools their impact on future investments.
The Single Window seeks to save time, resources and procedures for investors. The One-Stop Investment Window (VUI) is part of the Abinader administration’s Zero Bureaucracy Program. It is a digital platform that connects the services and procedures necessary to install a new investment in the Dominican Republic. The new digital services platform consolidates in a single access channel the obtaining of permits and certifications associated with Foreign Direct Investment.
It aims to streamline the processes of investments to produce goods and offer services in the country, so that the investor has a single point of contact, that is more efficient and less bureaucratic.
The One-Stop Investment System has more than 10 institutions linked to the platform and the possibility of carrying out more than 25 procedures. It places the country ahead of other countries in the Latin American region in terms of the number of sectors incorporated and the number of procedures and institutions linked to it. With this tool, the Dominican Republic is on track to lead the region by 2030 and to be one of the most competitive countries in the world in the next 20 years, Riveiro Disla stressed during the presentation.
The new digital guide for investment (Iguide) was designed by UNCTAD and the International Chamber of Commerce. It gives investors access to information on costs, opportunities and business conditions in other countries. It had the support of Caribbean Export Development Agency (CEDA), represented by deputy executive director Leonel Naut at the activity.
Riveiro Disla says it is a further step in efforts at Pro Dominicana to optimize the institutional framework and legal security as attractive for attracting investment and maximizing benefits for Foreign Direct Investment in the country.
Ian Richards, economist of the United Nations Conference on Trade and Development (UNCTAD), spoke about the two new digital platforms. He said they place ProDominicana at the forefront of digital investment facilitation. “Investors can now understand how to invest in the Dominican Republic, establish their businesses and obtain important permits, all from the comfort and convenience of their electronic devices,” he said.
José Quiroz, founder and managing partner of Quiroz Advisors-QA LEGAL, presented the iGuide platform as a digital tool to those present.
Similarly, ProDominicana’s director of Strategic Innovation, Edgar Espinal presented the Dominican Republic’s One-Stop Investment Window (VUIRD) system
Foreign Direct Investments were US$1,990.1 million during the period January-June 2022, which represents an inter-annual growth of 15% compared to the same period in 2021. It is important to note that this value represents a milestone in FDI attraction during the last 10 years.
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Pro Dominicana
26 October 2022